Cost of Living in Grand Rapids, MI
2024 data from the Bureau of Economic Analysis
Cost Index
95.5
4.5% below avg
Housing Index
86.6
Median Income
$76,898
Median Rent
$1,078/mo
Cost Breakdown
Overall95.5 (-4.5%)
Housing86.6 (-13.4%)
Goods93.7 (-6.3%)
Utilities93.8 (-6.2%)
Other Services99.6 (-0.4%)
National average = 100
Income & Housing
Median Household Income
$76,898/year
Median Home Value
$239,900
Median Monthly Rent
$1,078/mo
Per Capita Income
$38,016/year
Compare Grand Rapids, MI With
Grand Rapids, MI vs Albuquerque, NMGrand Rapids, MI vs Yakima, WAGrand Rapids, MI vs Grand Junction, COGrand Rapids, MI vs Salisbury, MDGrand Rapids, MI vs Columbus, OHGrand Rapids, MI vs Helena, MTGrand Rapids, MI vs Indianapolis, INGrand Rapids, MI vs Gettysburg, PAGrand Rapids, MI vs Cincinnati, OHGrand Rapids, MI vs Syracuse, NY
Frequently Asked Questions
Is Grand Rapids, MI expensive to live in?
Grand Rapids, MI has a cost of living index of 95.5, which is 4.5% below the national average.
How much does housing cost in Grand Rapids, MI?
Housing costs in Grand Rapids, MI are indexed at 86.6 compared to the national average of 100. The median monthly rent is $1,078.
What is the average income in Grand Rapids, MI?
The median household income in Grand Rapids, MI is $76,898 per year.
What is the average home price in Grand Rapids, MI?
The median home value in Grand Rapids, MI is $239,900.